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N’Assembly to transmit 2022 budget Thursday – Lawan

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Senate President, Ahmad Lawan
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…Says Senate must remain steadfast in stabilizing polity ahead of 2023
 
President of the Senate, Ahmad Lawan, has said that the National Assembly will on Thursday transmit the 2022 budget passed by both chambers to President Muhammadu Buhari for assent into law.

Lawan gave the hint on Wednesday in his remarks moments before the chamber proceeded on recess.

According to him, the timely assent of the 2022 Appropriations bill into law would ensure the commencement of its implementation by January next year.

He added that businesses operating in the country as well as the economy stand to be impacted positively by the timely passage of the nation’s budget by the National Assembly.
 
He said, “For the 2022 Appropriation bill, we are expecting that the bill will be cleaned up between today and tomorrow, and we hope that by tomorrow, the bill will be sent to Mr. President for his assent.

“[And] we are very optimistic that Mr. President will assent to the bill, like he did for 2020 and 2021, so that by January 2022, the implementation of the budget 2022 will commence by the grace of God.

“We have seen the benefits of passing and assenting to the budget in good time, especially when we had to fight COVID-19.

“The consequence of the implementation of the budget in 2021 and 2020 was very clear. For us to come out of the recession that we found ourselves in the previous period, we must have had the fortune of passing the budget and getting Mr. President to sign in time.

“So, we believe that the economy of Nigeria, and Nigerian businesses especially, will continue to benefit from the passage of the appropriation bills in time and the assent by Mr. President, accordingly.

“We wish to make it clear that our desire is to provide legislations for the peace, order and good government of our country.”

The Senate President further hinted that the chamber would consider the report of the Committee on the Review of the 1999 Constitution as soon as it is presented early next year.

“When we return, we have one major legislation that has not been attended to at all as a chamber, and that is the constitutional amendments.

“Our Committee on the Review of the 1999 Constitution has been doing its work. But as a chamber, we haven’t finished working on it.

“We are expectant that our Committee on the review of the constitution will be presenting the report to this chamber as soon as we resume. The committee has done so much, and the report is almost ready.

“When we harmonize with our colleagues in the House, we should be able to vote on the issues that will particularly bring about peace, unity and good government in our country, before such bill will be sent to the State Houses of Assembly for concurrence.

“On the whole, we must thank Almighty God that almost all those major items we reflected in our legislative agenda as a chamber has been attended to.

“There’s nothing that has been left out, including the review or amendment to our standing orders on how our committees have better and more clearly defined jurisdictions and, of course, how we conduct ourselves here as a chamber.

“And this is because we’ve remained united even in the face of sometimes very difficult issues. We have gone through such difficult moments with dignity and respect for each other, and we have come out even stronger.”

The Senate President reminded his colleagues of the role of the Senate as an institution to stabilize the polity, particularly against the backdrop of issues likely to surface ahead of the 2023 general elections.

“Next year, by the grace of God, will be the last lap of our tenure. So, we have a lot to ensure that we finish all the things that we have penciled down for ourselves and, of course, there are many other issues that from time to time will be coming up in our polity.

“This Senate is supposed to play that role of stabilizing the polity in Nigeria.

“[And] I daresay, that the members of the National Assembly, particularly the Senate, is a stabilizing institution in the polity of Nigeria.”

He underscored the need for the National Assembly to work with the executive arm of government to provide the needed resources, as well as oversight the use of such funds in the fight against insecurity.

“The killings across the country are so bad, and it is not acceptable to us, but we have to work hard because we are part of government and we are also accountable to the people, for not only protecting their lives and property, but to ensure that they have a life that is worth living”, Lawan said.

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Business & Economy

Kaduna refinery will begin production in December – NNPCL Boss, Kyari

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The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL,Mele Kyari has disclosed that the refinery in Kaduna State will be ready for production by December 2024.

He disclosed this during a meeting with the Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria in Abuja.

He disclosed that operations at the Port Harcourt refinery are scheduled to begin in two weeks.

According to Kyari: “We did a mechanical completion of the (Port Harcourt) refinery, that was what we said in December. We now have crude oil already stocked in the refinery. We are doing regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in the next two weeks.

“Completing the mechanical work means that you are done with the rehabilitation work, now you have to test to see how it works. Of course, we have also completed the mechanical work on the Warri refinery.

“It is also undergoing regulatory compliance; processes that we are doing with our regulator, and this will soon be completed and it will be ready.

“The Kaduna refinery will be ready by December. We have not reached that stage in Kaduna, but we promise Kaduna will be delivered by December.”

 

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Business & Economy

Edun Blames Economic Hardship On Free Printing Of Naira During Buhari’s Govt

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Minister of Finance, Wale Edun, stated this on Wednesday when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.

The Federal Government has disclosed that the free printing of naira notes for eight years, under the previous administration went into the hands of a privileged few, without corresponding productivity, resulting in the country’s current economic situation.

Minister of Finance, Wale Edun, stated this on Wednesday when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.

While elaborating on measures to revamp the economy, the Finance minister vowed to thoroughly audit the 22.7 trillion naira, and mop up the monies from the market and use it to pay the central bank to give the government a balanced book.

Responding to questions, the finance minister addressed the issue of waivers on customs duty running into trillions of naira, promising to overhaul the system, rejig it and implement a technology and payment system that would correct all anomalies in place.

He further disclosed that a total of 13 trillion naira was collected as non-oil revenue in 2023.

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Business & Economy

Harsh Economy: FG To Begin Distribution Of Grains Nationwide 

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The Federal Government will begin the distribution of grains nationwide to cushion the impacts of the hardship in Nigeria.

Minister of Agriculture and Food Security Senator Abubakar Kyari disclosed this on Monday.

“Dear Fellow Nigerians,” he wrote on his official X handle. “In these trying times, I extend my sincere compassion to those affected by the hardships in the country. I understand the gravity of the situation, especially with the unfortunate event of foodstuff warehouse looting.

“Amidst these challenges, I want to assure you that our commitment to your well-being remains resolute. We shall commence the distribution of 42,000 metric tons of grains, as approved by Mr. President, across the 36 states of the federation as one of the programs to be rolled out this week.

“We are working hand in hand with NEMA and the DSS to ensure that the grains get to the right people in the right packages and quantities. Furthermore, 58,500 metric tons of milled rice from mega rice millers will also be released into the market for stabilization.”

The minister who hailed the resilience of the Nigerian people, urged them to back President Bola Tinubu’s government in its quest to address the challenges facing the country.

“I acknowledge the strength of the Nigerian people, and it is this resilience that will guide us through these difficult times. Let us stand together to support Mr. President in his strive for a better Nigeria,” Kyari said.

“Our government under the leadership of President Bola Ahmed Tinubu is committed to addressing these challenges and working towards a more secure and prosperous future for all.”

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